Contemporary Two-Bedroom
For Sale
$419,900
3102 Spruce CT., Spirit Lake, IA 51360
DUPLEX - Contemporary - Spirit Lake, IA
Property Size1,425 SF
Lot Size0.18 Acres
Price / SF$294.67
Days on Market92
Property Features for 3102 Spruce CT.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Elementary school district
Spirit Lake
Middle school district
Spirit Lake
High school district
Spirit Lake
Subdivision
Dickinson
Standard status
Active
APN
07-09-156-029
Size
1,425 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
UNIT 9B SPRUCE CT THE PINES TOWNHOMES Spirit Lake DCI Legal per
Tax Annual Amount
2600
Legal Description
UNIT 9B SPRUCE CT THE PINES TOWNHOMES Spirit Lake DCI Legal per
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
covered patio
Building Details
Year built
2026
Floors in Building
1
Building materials
Hardboard, Stone
Architectural style
Contemporary
Listing Agency:
Hinn Real Estate
(712) 336-1240
Listed By:
Rob Hinn · License #B36926
(712) 330-1910
Added: May 5
Changed: Aug 4
Last Checked: Aug 4 at 3:06PM
MLS# 260401
Copyright © 2026 Iowa Great Lakes Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Contemporary two-bedroom, two-bath duplex under construction (year built 2026) designed around an open floor plan. The home includes 9' ceilings and a covered patio for outdoor grilling and relaxation rain or shine. Forced-air heating is provided, with public water and public sewer servicing the property.
The property sits on a 0.1828-acre lot at 3102 Spruce CT., Spirit Lake, IA 51360, in Dickinson County. Exterior materials include hardboard and stone.
Inside, the layout is organized for everyday living with two bedrooms and two bathrooms, plus the open living space intended for comfortable everyday living and effortless entertaining.
The property sits on a 0.1828-acre lot at 3102 Spruce CT., Spirit Lake, IA 51360, in Dickinson County. Exterior materials include hardboard and stone.
Inside, the layout is organized for everyday living with two bedrooms and two bathrooms, plus the open living space intended for comfortable everyday living and effortless entertaining.
Key Highlights
- Under construction with a planned 2026 year built
- Open floor plan with 9' ceilings
- Covered patio for outdoor use rain or shine
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.3k | $13.56 |
| − Vacancy | −$1.5k | −$1.03 |
| EGI | $17.9k | $12.53 |
| − OpEx | −$5.4k | −$3.76 |
| NOI | $12.5k | $8.77 |
1,425 SF · lease $13.56/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$178.5K
$156.2K – $208.3K
NOI $12,498 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$164.4K
$143.9K – $191.8K
NOI $11,508 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 51360, IA
8,553
Population
6,638
Households
1.3
Avg Household Size
49
Median Age
35%
College-Educated
97%
High-School Grad
105.2 sq mi
ZIP Area
81
Density / Sq Mi
$77,464
Median Household Income
$41,043
Median Earnings
$1,005
Median Rent
$256,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Contemporary two-bedroom, two-bath duplex with forced-air heat and public water and sewer, under construction for 2026.
Where is this duplex located?
The property is located at 3102 Spruce CT. Spirit Lake, IA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Under construction with a planned 2026 year built; Open floor plan with 9' ceilings; Covered patio for outdoor use rain or shine
